Ethereum Forecast: Trump’s $2M ETH Investment and BlackRock ETF Influence
Former President Donald Trump’s significant holdings in Ethereum are causing a stir in the cryptocurrency world, potentially impacting the prices of Ethereum Exchange-Traded Funds (ETFs) amidst ongoing market movements. Trump’s ownership of $2 million in Ethereum and $7 million in TRUMP tokens has raised speculation about the influence on ETH ETF prices reaching new record highs. Despite notable outflows from ETH ETFs, Ethereum saw a 2% increase in value last Friday.
Following a three-day streak of inflows, ETH ETFs experienced over $39 million in outflows, with Grayscale’s ETHE bearing the brunt of a $42.5 million exodus. Notably, BlackRock has emerged as a dominant player in Bitcoin and Ethereum ETFs, surpassing Grayscale in ETF holdings, as reported by Arkham Intelligence. This shift signifies a pivotal change in the ETF landscape.
In a recent development, Nasdaq ISE, LLC withdrew its proposal for Ethereum ETF options on August 13. Data further reveals that Donald Trump, a Republican presidential candidate, holds over $2 million in Ethereum and Wrapped Ethereum, potentially stemming from the sale of his NFT collection.
An analysis of on-chain data by CNF previously highlighted that Trump’s comments triggered an 86,000% surge in value for a fortunate crypto trader’s Ethereum memecoin investment. Presently, according to CoinMarketCap, Ethereum (ETH) is trading at $2,597.65, showing a 3.00% decline in the past day and a 3.15% decrease in the past week.
It is essential to note that this article is solely for informational purposes and does not serve as investment advice. Readers are encouraged to conduct their research and seek advice from financial advisors before making any investment decisions, considering that the presented information may not be up-to-date and could become obsolete.
